114
114
Dec 27, 2012
12/12
by
CSPAN
tv
eye 114
favorite 0
quote 0
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. why was walmart producing it? i think it was a symbolic gest
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. there were some key elements. one was the proliferation of blue-collar workers in united states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do...
112
112
Dec 27, 2012
12/12
by
CSPAN
tv
eye 112
favorite 0
quote 0
and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effectively what we have between 1940's and 1971, 1973, you had global surpluses being recycled from united states to the rest of the world. the capitalist world. the western world. ok? so, the united states was an exporter to europe and japan. it was making profits. it was then recycling to europe and japan. so they would keep on buying. once the surplus shifted to japan, germany, and china, the idea that volcker had was a we will swap this. we will just turn it on its head. we will e
and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. -- game over. but if you are the united states of america and there are certain -- and you have the reserve currency of the world, and certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall...
147
147
Dec 30, 2012
12/12
by
WRC
tv
eye 147
favorite 0
quote 0
part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge opportunity around energy. we are producing more energy and america can become an energy exporter. how do we do that in a way that also deals with some of the environmental challenges that we have at the same time. so that's going to be a third thing. but the most immediate thing i've got to do, starting on january 1st, if congress doesn't act before the end of the year, is make sure that taxes are not going up on middle class families. and because it is going to be very hard for the economy to sustain its current growth trends if suddenly
part of that is deficit reduction. part of it is also making sure that we're investing for example in rebuilding our infrastructure. which is broken. and if we are putting people back to work rebuilding our roads, our bridges, our schools -- in part paying for it by some of these broader long-term deficit reduction measures that need to take place, that will grow the economy at the same time as we're also setting our path for long-term fiscal stability. number three, we've got a huge...
235
235
Dec 30, 2012
12/12
by
FOXNEWSW
tv
eye 235
favorite 0
quote 0
that is only 5% or 6% of the deficit. when it comes to defense spending the only reason i would vote for this deal if sequestration is not included is trusting people like dianne to work with me to make sure it never becomes a reality post january 1. >> chris: even if you get the automatic cuts which are $110 billion or $120 billion in the first year even if you get those the deal that you are talking about does not reduce our national debt because extending the bush tax cuts on 98%, 99% of americans it will actually increase the debt by trillions of dollars over the next decade. the question is when are you guys going to get serious about spending? >> we are getting serious about spending. we already cut spending between the c.r. and the affordable care act. we cut spending a trillion dollars plus. how to there is an argument over how much but let's say it is a trillion and a half dollars. having said that, i think there is a commitment to cut spending. if you do it by virtue of sequestration it falls regardless of prior
that is only 5% or 6% of the deficit. when it comes to defense spending the only reason i would vote for this deal if sequestration is not included is trusting people like dianne to work with me to make sure it never becomes a reality post january 1. >> chris: even if you get the automatic cuts which are $110 billion or $120 billion in the first year even if you get those the deal that you are talking about does not reduce our national debt because extending the bush tax cuts on 98%, 99%...
22
22
tv
eye 22
favorite 0
quote 0
produced no result the republicans and democrats failed to reach a deal on how to best reduce the national deficit tax hikes and spending cuts with billions of dollars that automatically take effect on journey to first another round of talks for saturday barack obama's already considering an emergency bill for lower wages and the unemployed if agreement isn't reached before that line. six men involved in the gang rape of a student in india have been charged with murder just hours after the victim died in all spittal if convicted all could face the death penalty but case sparked protests in new delhi with the authorities resorting to banning mass gatherings in parts of the city people still joining to express their anger well demanding extreme measures to keep the streets safe. and it's coming up to twenty five minutes past nine at night moscow time or to recap our main news story four people have been killed after a plane crashed into the side of one of moscow's main highways earlier on the sea evening four others were injured all of them are in a serious condition with head injuries the red wings
produced no result the republicans and democrats failed to reach a deal on how to best reduce the national deficit tax hikes and spending cuts with billions of dollars that automatically take effect on journey to first another round of talks for saturday barack obama's already considering an emergency bill for lower wages and the unemployed if agreement isn't reached before that line. six men involved in the gang rape of a student in india have been charged with murder just hours after the...
172
172
Dec 30, 2012
12/12
by
WTTG
tv
eye 172
favorite 0
quote 0
, it is 6 or 7% and i don't believe all of it will go on the deficit. when we raised the debt ceiling in august of 2011, we borrowed $2.1 billion. we spent that much money, in 17 months. why would i raise the debt ceiling again, unless we address what put us in debt to begin with? i'm not going to raise the debt ceiling unless we get serious about keeping the country from becoming greece, and social security and medicare, here's what i would like, meaningful entitlement reform, not to turn social security into private accounts, not to take a voucher approach to medicare. but, adjust the age for social security, cpi changes and means testing and look beyond the ten-year window. i cannot in good conscience raise the debt ceiling without addressing the long term debt problems of this country and i will not. >> chris: and, senator feinstein, you heard president obama say we have to get out of the habit and will not start trading debt ceiling increases for spending cuts. >> i think the key to what he is saying is that you don't affect people at this time. wh
, it is 6 or 7% and i don't believe all of it will go on the deficit. when we raised the debt ceiling in august of 2011, we borrowed $2.1 billion. we spent that much money, in 17 months. why would i raise the debt ceiling again, unless we address what put us in debt to begin with? i'm not going to raise the debt ceiling unless we get serious about keeping the country from becoming greece, and social security and medicare, here's what i would like, meaningful entitlement reform, not to turn...
14
14
tv
eye 14
favorite 0
quote 0
for india eighty percent of their deficit is caused by. gold imports well the indian population is doing what i've been telling people around the world to do by buying silver across j.p. morgan so the indian folks are buying gold to crash the bank stores in india people around the world should be buying silver to crash j.p. morgan buy gold and silver to crash the banks because if they're above the law and no one is going to go after them and they are given a remit to commit massive fraud and financial terrorism then it's up to everyone in the world and the indians are leading the global charge on this i commend you india continue to build your gold hoard kill the banks turns off yeah and finally you know on this one of the reasons why they give for why they store twenty five thousand tons of gold is because there's the government doesn't take care of them there's no social security system but here we have a false illusion that the government is somehow going to take care of us even though all the evidence is there that they only take care
for india eighty percent of their deficit is caused by. gold imports well the indian population is doing what i've been telling people around the world to do by buying silver across j.p. morgan so the indian folks are buying gold to crash the bank stores in india people around the world should be buying silver to crash j.p. morgan buy gold and silver to crash the banks because if they're above the law and no one is going to go after them and they are given a remit to commit massive fraud and...
141
141
Dec 24, 2012
12/12
by
MSNBCW
tv
eye 141
favorite 0
quote 0
doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social security or for that matter medicare benefits. you can cut medicare in ways you don't cut benefits and the hypocrisy of republicans that said that democrats are terrible because they took $716 billion from medicare for obama care and what do we want to do? pocket the cuts and add more. our chief demand is entitlement cuts. medicare and social security. >> talk about the debt ceiling and where this is played in to this conversation. that is coming up in february or supposed to come up in february. john boehner made the offer to take it off the table for a year but i want to sho
doesn't contribute to the deficit. and we're talking about the deficit. why should social security be discussed in that context? >> completely off the table? >> absolutely. absolutely. and that was the -- and that was our position during the campaign. social security has nothing to do with the deficit. does not contribute to it. walled off from it. its own trust fund with $2.7 trillion in it at the moment. and the american people by huge majorities say we shouldn't be cutting social...
118
118
Dec 23, 2012
12/12
by
CSPAN2
tv
eye 118
favorite 0
quote 0
my views will never fix the deficit soccer in the dirt. [applause] so therefore you shouldn't take my word for it. you should take the word for the people who are experts on the economy. and here's our product. you are the first to see it. so we published a book, "the 4% solution." jim is going to introduce many of the folks who are here who have written some of the chap verse. and then brendan miniter come in the very able editor at the bush summer will be conduct in the panel. if you please welcome jim glassman, founding executive director of the george w. bush institute and has led us nobly in her first 18 months of existence. for practice have you here. it's for coming. [applause] >> thank you, president bush. panelists may. president bush talk to you about what we are doing in africa. one of the waste to sum up what the bush institute does is advancing freedom. you can't be free if you're sick. he can't be free either if you live in a society ruled that the gators as the people of our brand or syria or cuba do. but the freedom collect
my views will never fix the deficit soccer in the dirt. [applause] so therefore you shouldn't take my word for it. you should take the word for the people who are experts on the economy. and here's our product. you are the first to see it. so we published a book, "the 4% solution." jim is going to introduce many of the folks who are here who have written some of the chap verse. and then brendan miniter come in the very able editor at the bush summer will be conduct in the panel. if...
91
91
Dec 27, 2012
12/12
by
CSPAN
tv
eye 91
favorite 0
quote 0
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were japanese or german, the profits, where do you invest them? where do you keep them? you keep them with the low inflation rate. that is one reason. one mechanism that helps attract the capital from the rest of the world and close the loop. wall street was another. it has an amazing capacity to create a metaphysical value out of nothing. walmart was another. is promoted the ideology of cheapness, which was calculated -- encapsulated so brilliantly. nobody needs a gallon of pickles. i don't think it fits in a fridge. wh
finance our deficits. and this is precisely how it worked. and the trouble was -- and if you want to understand exactly how the capital gains profits were attracted to the united states -- there are some key elements. one was, the commiseration of blue-collar workers in the united states. there were some key elements. one was the proliferation of states. that kept prices low. even with the oil crisis, prices in the united states rose more slowly than they did in japan or europe. so, if you were...
120
120
Dec 25, 2012
12/12
by
FBC
tv
eye 120
favorite 0
quote 0
serious proposals to reduce the deficit and really end our national debt. potentially, a significant blow to the obamacare controversial o contraceptive mandate. the eighth circuit court of appeals in the preliminary injunction to stop the mandate for being enforced against the missouri catholic businesswne owners.the li the list of statesst o now, refg to set up state-run health care exchanges for insurance. it is growing. arizona becomes the latest to telling federal government but it will have to assume the burden of operating the exchange and the cost and the supervision, perhaps even running backstage, bringing the total number of states refusing to set up an exchange under obamacare to 17 states. ten other states remainm undecided as to the course they will take or it will be state, the way, the 17 states havenow e republican governors.ppellate we are joined now by peter johnson. it's great to see you. >> thank you for having me, louu dobbs. lou: what is your reaction totie that injunction against the contraceptive mandate? >> it is a surprisingri, in
serious proposals to reduce the deficit and really end our national debt. potentially, a significant blow to the obamacare controversial o contraceptive mandate. the eighth circuit court of appeals in the preliminary injunction to stop the mandate for being enforced against the missouri catholic businesswne owners.the li the list of statesst o now, refg to set up state-run health care exchanges for insurance. it is growing. arizona becomes the latest to telling federal government but it will...
180
180
Dec 27, 2012
12/12
by
CNBC
tv
eye 180
favorite 0
quote 0
got a debt and deficit issue, debt-to-gdp issue way too high, approaching european levels, and we've got to solve it. >> such a pity that is it has to go down to the weather. >> my pleasure. >> the market is senting a happy new year. but now it's down just 16 points. >> feels like we're on thin as i aid with some so are you pouring your money into seconds sis no way. outdorg kay bailey hutchison is with us. kwoind out if she thinks there's room for a deal after the house reconvenes on sunday. stay tuned. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. >>> and there's your green, the doug, s&p and even the s&p are now all slightly in the green now. what happened here as, of course, the dow was down earlier today by nearly 150 points
got a debt and deficit issue, debt-to-gdp issue way too high, approaching european levels, and we've got to solve it. >> such a pity that is it has to go down to the weather. >> my pleasure. >> the market is senting a happy new year. but now it's down just 16 points. >> feels like we're on thin as i aid with some so are you pouring your money into seconds sis no way. outdorg kay bailey hutchison is with us. kwoind out if she thinks there's room for a deal after the house...
82
82
Dec 29, 2012
12/12
by
FBC
tv
eye 82
favorite 0
quote 0
with leaders of both parties to try and forge an agreement that would grow our economy and shrink the deficit. a balanced plan that would cut spending in a responsible way but also ask the wealthiest americans to pay a little more. and above all, protect our middle class and everybody who is striving to get into the middle class. i still want to get this done. it is the right thing to do for our families, four or businesses and for our entire economy but the hour for immediate action is here. it is now. we're now at the point where in just four days every american's tax rates are scheduled to go up by law. every american's paycheck will get consider bring smaller. and that would be the wrong thing to do for our economy. it would be bad for middle class families and it would be bad for businesses that spend, depend on family spending. fortunately congress can prevent it from happening if they act right now. i just had a good and constructive discussion here at the white house with senate and house leadership about how to prevent this tax hike on the middle class. and i'm optimistic we may stil
with leaders of both parties to try and forge an agreement that would grow our economy and shrink the deficit. a balanced plan that would cut spending in a responsible way but also ask the wealthiest americans to pay a little more. and above all, protect our middle class and everybody who is striving to get into the middle class. i still want to get this done. it is the right thing to do for our families, four or businesses and for our entire economy but the hour for immediate action is here....
18
18
tv
eye 18
favorite 0
quote 0
for example who are living in cairo to vote in cairo like in the nineteenth of march so we had this deficit of one million people but if we compare the numbers of referendum who won't find any differences. but figures suggest only around hull of all egyptians support the islamists so how do you intend to gain greater backing. while. again again please all right we have reports and figures in general peter gration of course the figures suggest only around hustle all egyptians in your country support there is limits how do you intend to gain greater backing. we are going to gain. this by by by time you see a lot of people are already entered by what is in the media and our media is against the islamic. parties but by time people would see how we deal with the problems and i think this willing to use our popularity in the coming. in the coming election i see also the muslim brotherhood your party has been known for its anti israel views has that position now changed probably all can we expect increased tension now between the neighboring countries egypt and israel . we don't we don't have inte
for example who are living in cairo to vote in cairo like in the nineteenth of march so we had this deficit of one million people but if we compare the numbers of referendum who won't find any differences. but figures suggest only around hull of all egyptians support the islamists so how do you intend to gain greater backing. while. again again please all right we have reports and figures in general peter gration of course the figures suggest only around hustle all egyptians in your country...
32
32
tv
eye 32
favorite 0
quote 0
had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still knowledge and then the average here is a country that is i think we've been part of the euro zone we would have been in the worst position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i have to say is the person that had to take a decision as to whether or we should stop the banking system collapse i could take that decision consulting with the prime minister and we did it overnight if we did bob you reserve my guess is going on i would still be asking the question and discussing it no i don't i i just despair of the score off it decision making in the euro zone or inability in greece for example after two years to come to something that looks like it's credible it's going to stick and we have had our in currency for and we've seen a thirty percent depreciation in standing over. reason is why then have we been unable to export our way out of trouble i think is partly because of the depressed state of the world ec
had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still knowledge and then the average here is a country that is i think we've been part of the euro zone we would have been in the worst position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i have to say is the person that had to take a decision as to whether or we should stop the banking system collapse i could take...
48
48
tv
eye 48
favorite 0
quote 0
had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still larger than the average euro zone countries is i think we've been part of the euro zone we would have been a worse position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i. probably should have stopped. have we been unable to export our way out of trouble i think is partly because of the depressed state of the world economy you know we sell a lot to america and america's growing but at a pretty low rate look at the euro zone where half of what we produce goes the eurozone is in recession and you know that ok the germans are doing a little bit better than that but it's not surprising you know if you've got this sort of don't term that you don't automatically get the benefit you would expect but you know there's been a lot of discussion in britain by rebalancing the economy you know that's fine but it's very difficult to do it when that economy is in recession what do you make of the current debate about changing ou
had it been part of the year is that in two thousand and eight and i ask of course because our budget deficit is still larger than the average euro zone countries is i think we've been part of the euro zone we would have been a worse position because we didn't wouldn't have our own currency and we wouldn't have our own central bank and also you know i. probably should have stopped. have we been unable to export our way out of trouble i think is partly because of the depressed state of the world...
429
429
Dec 29, 2012
12/12
by
KQED
tv
eye 429
favorite 0
quote 0
presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes, there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs, cuts with a smothering effect on the tax hikes will have been very damaging effect on the was economy and by extension the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that they could that the fiscal cliff deadline lapse an
presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >>...
152
152
Dec 23, 2012
12/12
by
FOXNEWSW
tv
eye 152
favorite 0
quote 0
we hear politicians talk about deficits and debt all the time. >> debt,. >> deficit. >> deaf. debt. >> how they can get it to slow down or tick back the other way continues to be the challenge. but first, where we have been. >> let's look at debt through history. the amount we owe has ebbed and flowed. our country's habit of spending more than it takes in is nothing new. while wree currently at the highest level of debt our country has seen, 1835 saw the lowest recorded debt at just $34,000 under president andrew jackson. it was an unsuccessful assassination attempt on him that year. in 1865 a president that did parish from such an attack, president abraham lincoln over saw a debt of $3 billion. fast-forward to black tuesday in 1929. the most devastating stock market crash in the history of the united states. our national debt rose to $17 billion then. then came world war ii, a very expensive one. and by d-day in 1945 our debt ballooned to $259 billion, a quarter of a trillion dollars. and then to more recent times. the 2008 financial crisis. the amount of our debt our country
we hear politicians talk about deficits and debt all the time. >> debt,. >> deficit. >> deaf. debt. >> how they can get it to slow down or tick back the other way continues to be the challenge. but first, where we have been. >> let's look at debt through history. the amount we owe has ebbed and flowed. our country's habit of spending more than it takes in is nothing new. while wree currently at the highest level of debt our country has seen, 1835 saw the lowest...
114
114
Dec 28, 2012
12/12
by
WETA
tv
eye 114
favorite 0
quote 0
presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes, there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs, cuts with a smothering effect on the tax hikes will have been very damaging effect on the was economy and by extension the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that they could that the fiscal cliff deadline lapse an
presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >>...
153
153
Dec 30, 2012
12/12
by
CSPAN
tv
eye 153
favorite 0
quote 0
they said almost every day, at the top of the list is, deficit. get the deficit under control. until we actually did it in the 1990's. and why did i have this single- minded focus? i have always understood, the most important responsibility of government is economic security of the people. if you do not have your fiscal affairs in order -- we learned in the economic downturns in my state, the debt to work for you. it can also question. -- the debt can work for you. it can also crush you. i do not want to see the country go through the same kinds of problems. my family lived through the great depression in the 1930's. it exacted a terrible toll on the people in my state. i have always been very focused on economic growth, economic opportunity, and being responsible with the resources that you have. >> we a frequently heard from the republican candidate but this country could become like greece. do you see that as a possibility? >> no. it is a profoundly different situation. i do see the possibility that we could have debt that would truly be harmful. the congressional budget off
they said almost every day, at the top of the list is, deficit. get the deficit under control. until we actually did it in the 1990's. and why did i have this single- minded focus? i have always understood, the most important responsibility of government is economic security of the people. if you do not have your fiscal affairs in order -- we learned in the economic downturns in my state, the debt to work for you. it can also question. -- the debt can work for you. it can also crush you. i do...
118
118
Dec 28, 2012
12/12
by
CSPAN
tv
eye 118
favorite 0
quote 0
they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held the growth flat. then we cut it by almost 5%. this time around, we let it grow a little bit higher. protect the dome so it did not fall in.
they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would...
90
90
Dec 27, 2012
12/12
by
CSPAN
tv
eye 90
favorite 0
quote 0
they say, almost every day, at the top of the list is the deficit. get the deficit under control. until we actually did it in the 1990's. why did i have this single- minded focus? because i've always understood the most important responsibility of government is the economic security of the people. if you do not have or fiscal affairs in order, we have learned in the economic downturns of my state that debt can work for you. it can also crushed you. i have seen people crushed by debt. i have not wanted to see the country go through those same problems. my family lived through the great depression in the 1930's. exacted a terrible toll on the people of my state. i have always been very focused on economic growth, economic opportunity, and being responsible with the resources that you have. >> during the last campaign, we frequently heard from the republican candidate that this country could become like greece. do you see that as a possibility? >> no, i do not see that as a -- i do not see us becoming a light breeze. it is a profoundly different situation. i do see the possibility th
they say, almost every day, at the top of the list is the deficit. get the deficit under control. until we actually did it in the 1990's. why did i have this single- minded focus? because i've always understood the most important responsibility of government is the economic security of the people. if you do not have or fiscal affairs in order, we have learned in the economic downturns of my state that debt can work for you. it can also crushed you. i have seen people crushed by debt. i have not...
174
174
Dec 24, 2012
12/12
by
CSPAN
tv
eye 174
favorite 0
quote 0
we are going to expand our dominance and are well by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. but if you are the united states of america and there are certain other factors that i will touch upon later, what you can do is you can expand your deficit as long as you create the circumstances so that german entrepreneurs, later chinese, take their profit, which they earned and they send it to wall street. thus closing the cycle, the recycling loop. so, effectively what we have between 1940's and 1971, 1973, you had global surpluses being recycled from united states to the rest of the world. the capitalist world. the western world. ok? so, the united states was an exporter to europe and japan. it was making profits. it was then recycling to europe and japan. so they would keep on buying. once the surplus shifted to japan, germany, and china, the idea t
we are going to expand our dominance and are well by expanding our deficit and using our deficits to provide the rest of the world with the demand which is necessary to grow their economies, even at the expense of hours. and who is going to pay for the deficit? if i have an ever-expanding deficit, the bank tells me it is came over. but if you are the united states of america and there are certain other factors that i will touch upon later, what you can do is you can expand your deficit as long...
223
223
Dec 30, 2012
12/12
by
FOXNEWSW
tv
eye 223
favorite 0
quote 0
it ought to be about reducing the deficit and debt. they're suggesting we want new taxes, higher taxes on people in this country to pay for new spending. >> republicans continue saying they're waiting for harry reid to make a counter offer. >> they're not making that tonight. he's told us that's not going to happen it but they're working on it. a sounds like a change of entitlement programs is irritating them. >> republicans created way of calculating inflation to lower payments to recipients of social security. the senate majority leader offered this update a short time ago. >>> i was really gratified to hear republicans took their dammed for social security benefit cuts off the table. they should never have been on the table. there's still significant distance between the sides but negotiations continue. there's still time left and we intend to continue negotiations. >> senator mitch mcconnell says there was no single issue that remains an impossible sticking point. all that's is needed he says is a willingness, interest, or courage
it ought to be about reducing the deficit and debt. they're suggesting we want new taxes, higher taxes on people in this country to pay for new spending. >> republicans continue saying they're waiting for harry reid to make a counter offer. >> they're not making that tonight. he's told us that's not going to happen it but they're working on it. a sounds like a change of entitlement programs is irritating them. >> republicans created way of calculating inflation to lower...
54
54
Dec 28, 2012
12/12
by
CSPAN
tv
eye 54
favorite 0
quote 0
a very small amount compared to the $1 trillion budget deficit we have been running. host: you have been quoted as saying -- with the fiscal cliff we will see 1 million job losses. guest: that is the assessment we have been getting from the running of our models. the economy should be expanding to% or 3% next year without the fiscal cliff, that would correlate with about 2 million net new jobs next year. a it's a continuation of steady expansion. i wish it was a little faster expansion, but nonetheless it is an expansion. if we had a fiscal cliff, and we are reversing all the gains we have seen. host: what about mortgage deduction on a second home or vacation home or a certain limit to the size of a mortgage? would you be supportive of that? guest: we have to recognize that negotiating away from what has been a striking departure from just protecting the mortgage interest deduction, property ownership. any breach to that invites further breaches. our members, even though they recognize the deck is a need to be resolved, any breach will lead to further coming back, low
a very small amount compared to the $1 trillion budget deficit we have been running. host: you have been quoted as saying -- with the fiscal cliff we will see 1 million job losses. guest: that is the assessment we have been getting from the running of our models. the economy should be expanding to% or 3% next year without the fiscal cliff, that would correlate with about 2 million net new jobs next year. a it's a continuation of steady expansion. i wish it was a little faster expansion, but...
110
110
Dec 27, 2012
12/12
by
CSPAN
tv
eye 110
favorite 0
quote 0
almost every day at the top of the list is deficit. get the deficit under control. until we did it in the 1990's. and why did i have a single- minded focus? i've always understood the most important responsibility of government is the economic security of people. if you do not have your fiscal affairs in order, we learned in the economic downturns in my state that debt can work for you. it can also crush you. i have seen people crashed by -- crushed by debt. my family lived through the great depression in the 1930's and it exacted a terrible toll on the people of my state. i have always been focused on economic growth, economic opportunity, and irresponsible with the resources at hand. -- >> the c.s. becoming like greece? >> no, that is a profoundly -- do you see as becoming like greece? >> that is a profoundly different situation. the congressional budget office says that if we stay on the course we are on, we will have a debt that is 230% of our gross domestic product of the the next 20 years. most experts say once you get a debt of more than 9% of gross domestic
almost every day at the top of the list is deficit. get the deficit under control. until we did it in the 1990's. and why did i have a single- minded focus? i've always understood the most important responsibility of government is the economic security of people. if you do not have your fiscal affairs in order, we learned in the economic downturns in my state that debt can work for you. it can also crush you. i have seen people crashed by -- crushed by debt. my family lived through the great...
105
105
Dec 28, 2012
12/12
by
CSPAN
tv
eye 105
favorite 0
quote 0
they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would have asked different questions than were asked. that is one of the reasons we got where we are. >> could you have been any more vocal about appropriations? >> i was vocal. when i got on the appropriations committee, i became chairman of the legislative branch. that is everything, all of the buildings. office buildings, 1700 capitol police forces, and all of their help, support staff. i held the growth flat. then we cut it by almost 5%. this time around, we let it grow a little bit higher. protect the dome so it did not fall in.
they did not show as a deficit. while the budgets looked reasonable during that time, the actual spending was greater. people did not pay as much attention to the debt. it just kept mounting and growing. we borrowed to pay for the worse when we did not ask people to make sacrifices financially. there is a difference between borrowing in the future, pang forward and backwards, or having to pay right now. people might have felt differently if they had felt a pinch right at the time. they would...
207
207
Dec 28, 2012
12/12
by
CNBC
tv
eye 207
favorite 0
quote 0
the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five, though it's very, very encouraging. on the other hand, you have unit labor costs which have been diminishing quite a lot and the exports of spain are very dynamic today. so it also demonstrates that hard work is being done. it's difficult. it's tough, but going in the right direction. i trust that the global observers are observing progressively and the adjustment is proceed. in spain and in all the countries that are under adjustment. >> now, lonmin's ceo ian farmer is stepping down while being treated for a serious illness after being first admitted to hospital back in august. the south african miner says it's already appointed an executiv
the country managed to avoid bailout so far, but will not meet its deficit target for the full year. do you think spain should be given more time? >> well, first of all, i think that, again, spain is going in the right direction. when you look at the current account, the deficit, you see that it had been diminished massively since the peak that they had in 2008, 2009. and, you know, as a very short summing up, it's been divided by more than five, though it's very, very encouraging. on the...
150
150
Dec 28, 2012
12/12
by
WJZ
tv
eye 150
favorite 0
quote 0
presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >> yes there is little doubt in washington about the seriousness of the sick jubilation. the problem is withdrawing government demand from the economy too big spending programs cuts with a smothering effect on the tax hikes will have been very damaging effect on the was economy and by extension the world economy. people know it is serious, but the politics, we know that the house and senate republicans do not want to increase taxes on anybody, so it is very difficult to see how a package can get through congress, certainly in time for the new year. one guess is that they could that the fiscal cliff deadline lapse and
presented a plan to increase taxes on income over a quarter million dollars per year, as part of the deficit reduction plan to deal with american debt. he would probably say to the congressional leaders that need to figure out a way to get it through, but i think the expectations in washington of a deal are low with only three, four days left until the new year and the media tax hikes and spending cuts taking and -- kicking in. >> that means perhaps heading back into recession? >>...
90
90
Dec 26, 2012
12/12
by
CSPAN
tv
eye 90
favorite 0
quote 0
that would cut the deficit in half. that would affect the ability to finance this larger government than he has created. so that would be consistent with his vision. then we would have a cry for tax reform act of top rates on the wealthy would be too high if you are running a small business. so they would eliminate some deductions. the tax burden overall would be about the same. and the deficit if with starts to wind down. the problem is president obama has also presided over a french- style growth rates of 2% per year. is not the worst of jamee have been been in the post world war era. -- this is not the worst jam. reagan had the economy growing at 6%. whereas mr. obama, to%. the downside has been the notion of accepting a much slower broken. longer-term, the pyramid of our society is getting more like a column, because we're having more and more older people -- people are living older and we can raise the retirement age. even with that we will have a larger elderly population to take care of. 2% growth becomes very di
that would cut the deficit in half. that would affect the ability to finance this larger government than he has created. so that would be consistent with his vision. then we would have a cry for tax reform act of top rates on the wealthy would be too high if you are running a small business. so they would eliminate some deductions. the tax burden overall would be about the same. and the deficit if with starts to wind down. the problem is president obama has also presided over a french- style...
235
235
Dec 28, 2012
12/12
by
FOXNEWSW
tv
eye 235
favorite 0
quote 0
. >> warren buffett could pay off the deficit he wanted to. but it is to be that a deal will happen after january 1. does that make any difference? >> yes, it does. i think some of all this panic is a little bit overwrought. if they don't reach a deal in the next 22 hours or so, then we go into january, and the stakes get so much higher. as you said, people will start feeling immediately the effect of those higher taxes. and that will put the pressure on the congress and president reach a deal. if they don't reach a deal on december 31, which is my prediction, i believe sometime before the end of january, they will reach a deal. but my goodness. one of the things that is frustrating is we have known this day was coming for the last two years. yet here we are, 72 hours away and we don't have a resolution. gregg: this is a contrivance that they are desperately trying to fix. our member the president said in a debate, the debate, he said that i didn't come up with this. then bob woodward came out and said, yes, you did. you know, both a top aide
. >> warren buffett could pay off the deficit he wanted to. but it is to be that a deal will happen after january 1. does that make any difference? >> yes, it does. i think some of all this panic is a little bit overwrought. if they don't reach a deal in the next 22 hours or so, then we go into january, and the stakes get so much higher. as you said, people will start feeling immediately the effect of those higher taxes. and that will put the pressure on the congress and president...
379
379
Dec 27, 2012
12/12
by
KQED
tv
eye 379
favorite 0
quote 1
that's a healthy start but such a baby step when you're debading $100 billion out of a $1.3 trillion deficit. that's not draconian, that's not even that serious. >> warner: let me ask you this. the tea party has been since its -- at least inception when it burst on the national scene in '09 against the obama health care plan. been very vocal, had rallies and protests voiced its view and put pressure on lawmakers. they have not done that this -- in this go-round. there's no rallies calling on members of congress to stand firm against any compromise. what what explains that? >> i think it's a seshl movement and it's evolved dramatically from those protests in 2009. we were involved in those and those were very important at that time. you're seeing an evolution in developing sophistication at the very local level amongst activists. they're very aware of what's going on on the fiscal cliff. they're very aware of what a budget resolution is and you see that pressure applied to both republicans and democrats. >> warner: quietly. >> well, we're not a protest movement anymore. we're something else.
that's a healthy start but such a baby step when you're debading $100 billion out of a $1.3 trillion deficit. that's not draconian, that's not even that serious. >> warner: let me ask you this. the tea party has been since its -- at least inception when it burst on the national scene in '09 against the obama health care plan. been very vocal, had rallies and protests voiced its view and put pressure on lawmakers. they have not done that this -- in this go-round. there's no rallies calling...
311
311
Dec 23, 2012
12/12
by
MSNBCW
tv
eye 311
favorite 0
quote 0
whatever they do will probably add to the deficit. i think you have 50/50 of getting something done before the end of the year, but it won't be substantive. it will kick the major problems over until the next congress. >> you're saying they're kicking the can. >> yep. >> alex, i'm the eternal optimist, but i think the odds have dropped to 40%. >> 40%. okay. gentlemen, thank you very much. good to talk with you both. happy holidays. see you on the other side of the holidays. >> we've been asking all of you on twitter today how worried are you about the country going over the fiscal cliff. here are some tweets. not at all. thanks to the aoc, administrative office of the courts, california went over it last year. we remain broken and in a bloody heap in the sand. terry bradbury says i'm extremely worrieworried. the people are being held hostage over political egos who refuse to compromise. and it's time for the gop to realize the far-reaching effects of the bush years, going over the fiscal cliff is mild in comparison. and i'm not worrie
whatever they do will probably add to the deficit. i think you have 50/50 of getting something done before the end of the year, but it won't be substantive. it will kick the major problems over until the next congress. >> you're saying they're kicking the can. >> yep. >> alex, i'm the eternal optimist, but i think the odds have dropped to 40%. >> 40%. okay. gentlemen, thank you very much. good to talk with you both. happy holidays. see you on the other side of the...
233
233
Dec 28, 2012
12/12
by
CNBC
tv
eye 233
favorite 0
quote 0
so it adds to the deficit and only is willing to raise taxes on millionaires and above and that is getting through the senate. so what you're saying the reverse is true when you look at the house. boehner can pass the senate bill tomorrow as harry reid said today, but he doesn't want to do it with democrats and he wants a majority of the majority. is there anything wrong? wouldn't you like a bipartisan coming together here and everybody's in this? >> it would not be at all, and any of the plans at all, joy. and they campaign on three to one spending on we haven't seen anything like that come out of the senate. and they will not do anything to come out of the senate. >> john boehner can't get his own caulk us to take a vote on his idea to only raise the tax rates. he can't even get his own caucus to do that and he's been humiliated over and over by his own caulk us and he can solve it tomorrow. >> joy ann, harry reid hasn't passed a budget in years. >> he's passed a solution to this crisis. we're talking about the fiscal cliff. >> it hasn't got ensigned into law. there's no success yet ther
so it adds to the deficit and only is willing to raise taxes on millionaires and above and that is getting through the senate. so what you're saying the reverse is true when you look at the house. boehner can pass the senate bill tomorrow as harry reid said today, but he doesn't want to do it with democrats and he wants a majority of the majority. is there anything wrong? wouldn't you like a bipartisan coming together here and everybody's in this? >> it would not be at all, and any of the...
294
294
Dec 23, 2012
12/12
by
MSNBCW
tv
eye 294
favorite 0
quote 0
we have a $1 trillion annual budget deficit forecast for the next year. that means that president obama's solution would address 8% of the problem. it's by focusing on the 8% and giving the public the impression that that's in fact what would fix the problem that all these parties have done a disservice. they need to focus on spending, not on taxes. if they focus primarily on spending, i bet you would see the tax situation resolve itself. >> david, let's take a sharp turn and talk about the man who came very close to becoming the next president. the "boston globe" has an in-depth look at what might have gone wrong during romney's campaign. romney's eldest song tag along with ann romney who had to we are said him to run. he was quoted as saying he wanted to be president less than anyone i know in my life h.no desire to run. if he could have found somebody else to take his place he would have been ecstatic to step aside. what do you make of this? >> my eyes opened on that story because we know that mitt romney has run twice for the presidency. there were se
we have a $1 trillion annual budget deficit forecast for the next year. that means that president obama's solution would address 8% of the problem. it's by focusing on the 8% and giving the public the impression that that's in fact what would fix the problem that all these parties have done a disservice. they need to focus on spending, not on taxes. if they focus primarily on spending, i bet you would see the tax situation resolve itself. >> david, let's take a sharp turn and talk about...
172
172
Dec 28, 2012
12/12
by
CNNW
tv
eye 172
favorite 0
quote 0
trade deficit with china hit another record in 2011 with the value of chinese imports rising to almost $400 billion. but u.s. exports to china are also hitting record highs. >> china is now our third largest export market. and i don't think a lot of americans realize that. >> reporter: in fact, since the year 2000, 47 states have reported at least triple-digit export growth to china. including minnesota. the home of red wing shoes. >> china exports red wing shoe company have really taken off in the last five years. >> reporter: for red wing, the key is quality control. it says chinese-made products just don't measure up. >> the boots don't last as long. we are known for our leather. it's just a higher quality leather that's appreciated by that chinese customer. >> reporter: back in new york, fashion designer patrick ervel says his growing chinese fan base looks not only for quality but designs they can't find at home. >> now there is a bit of a cache, not just an american designer, but if you're manufacturing here, especially in menswear. >> reporter: why? >> just this idea of made in
trade deficit with china hit another record in 2011 with the value of chinese imports rising to almost $400 billion. but u.s. exports to china are also hitting record highs. >> china is now our third largest export market. and i don't think a lot of americans realize that. >> reporter: in fact, since the year 2000, 47 states have reported at least triple-digit export growth to china. including minnesota. the home of red wing shoes. >> china exports red wing shoe company have...